DERIVATIVE PICK 06 05 2011

HDFC BANK ( CASH – Rs.2220) : The stock is trading at its critical support level area of around Rs.2210 and once it starts trading below Rs.2207, we can expect the stock to decline further. Selling is advised below Rs.2205 for a target of Rs.2189 and Rs.2172. Lower target of Rs.2165 and Rs.2156 is also possible. Stop Loss of Rs.2231 should be kept. ORCHID CHEM ( CASH – Rs.297.70) : The stock has made a lower top and we expect selling pressure to intensify. Selling is advised below Rs.291 for a target of Rs.285 and Rs.280. Lower target of Rs.275 and Rs.272 is also possible. Stop Loss of Rs.301 should be kept.

DERIVATIVE PICK 08 04 2011

• FEDERAL BANK (CASH – Rs.420) : The stock is in a strong bull grip and once it is able to cross the crucial resistance level of Rs.425, it will gain further momentum. Buying is advised above Rs.425 for a target of Rs.432 and Rs.438. Higher target of Rs.422-444 is also possible. Stop Loss of Rs.417 should be kept.

DERIVATIVE PICK

• SHRIRAM TRANSPORT FINANCE (CASH – Rs.796): The stock has almost on the verge of breaking out of a bullish pattern in the daily charts. Buying is advised above Rs.805 for a target of Rs.818 and Rs.829. Higher targets of Rs.838 and Rs.849 is also possible. Stop Loss of Rs.789 should be kept.

• JP ASSOCIATES (CASH – Rs.92.80): Buying is advised above Rs.93.50 for a target of Rs.96 and Rs.98. Higher targets of Rs.102 and Rs.105 is also possible. Stop loss of Rs.88.75 should be kept. The time frame of the trade would be around 8-10 trading sessions for the higher target.

DERIVATIVE PICK 28 03 2011

• AXIS BANK (CASH – Rs.1364.95) : The stock has closed on a very strong note and after a very long timehas given a bullish breakout by piercing and closing above the crucial resistance line. The 14 day RSI toohas broken out of an ascending triangle pattern and has crossed the crucial 60 level giving strength to theprice pattern breakout. Buying is advised above Rs.1371 for a target of Rs.1394 and Rs.1412. Higher targetof Rs.1435 and Rs.1452 is also possible. Stop Loss of Rs.1334 should be kept. The time frame of the tradefor the final target would be around 8-10 trading sessions.
  

• JINDAL SOUTHWEST HOLDINGS (CASH – Rs.944) : The stock has closed on a strong note and we areof the view that the worst for the stock is over. Buying is advised above Rs.958 for a target of Rs.982 andRs.999. Higher target of Rs.1029 and Rs.1062 is also possible. The explosive move would come only aboveRs.982. Stop Loss of Rs.919 should be kept.
  

DERIVATIVE PICK

• ICICI BANK (CASH – Rs.1040.30) : The stock has shown a lot of resilience on days when the market is in a bearish mode. The stock has formed a long White Candle on strong volume expansion. Buying is advised above Rs.1045 for a target of Rs.1058 and Rs.1072. Higher target of Rs.1086-88 is also possible. Stop Loss of Rs.1024 should be kept.

• PNB (CASH – Rs.1110.35) : The stock after a long consolidation between Rs.1040 and Rs.1113 is now ready for an upward breakout. Buying is advised above Rs.1115 for a target of Rs.1127 and Rs.1139. Higher target of Rs.1144-1148 is also possible. Stop Loss of Rs.999 should be kept.

DERIVATIVE PICK

BHEL ( CASH – Rs.1964) : The stocks has formed a Bullish Engulfing pattern in the daily charts and as the name suggests has strong bullish implications. Buying is advised above Rs.1966 for a target of Rs.1994 and Rs.2010. Higher targets of Rs.2025 and Rs.2042 is also possible. Stop Loss of Rs.1929 should be kept.

DERIVATIVE PICK 16 03 2011

• RELIANCE ( CASH – Rs.1037.25) : After a very long time, Reliance Industries has clearly displayed leadership status pulling the market from the morning lows singlehandedly. Buying is advised above Rs.1050 for a target of Rs.1062 and Rs.1074. Higher targets of Rs.1083-1085 is also possible. Stop Loss of Rs.1029 should be kept. The time frame of the trade would be around 7-8 trading sessions.

• BHUSAN STEEL ( CASH – Rs.437.55) : The stock has shown a lot of strength and the counter saw buying form operators and funds in a big way. Buying is advised above Rs.448 for a target of Rs.456 and Rs.465. Higher target of Rs.476-478 is also possible. Stop Loss of Rs.437 should be kept. The time frame of the trade would be around 7-8 trading sessions.

DERIVATIVE PICK 22 02 2011

INFOSYS TECH (CASH – Rs.3165.25) : The stock after trading between Rs.3165 and Rs.3020 for the past 15 trading sessions has crossed the upper end of the range and has almost closed at it. The 14 day RSI during this period took constant support at the 40 level which clearly indicates that the stock is shifting into strong hands. Buying is advised above Rs.3178 for a target of Rs.3205 and Rs.3224. Higher target of Rs.3248-3256 is also possible. Stop Loss of Rs.3144 should be kept. For the last target to be reached, the time frame of the trade would be around 6-7 trading sessions.

EDUCOMP CASH (CASH- Rs.511.35) : The stock has been moving up in a slow and steady manner and in the hourly time frame it has already formed a series of higher tops and bottoms. Buying is advised above Rs.515 for a target of Rs.528 and Rs.539. Higher target of Rs.548-5552 is also possible. Stop Loss of Rs.499 should be kept. The time frame of the trade would be around 4-5 trading sessions.

DERIVATIVE PICK

JP ASSOCIATES ( CASH – Rs.90.30) : The stock has made a smart rebound and we expect the smallupmove to get converted into a bigger upmove. Buying is advised above Rs.90 for a target of Rs.94 and Rs.96.50. Higher target of Rs.99-101 is also possible. A slightly loose stop loss of Rs.85.75 should be kept. Since it is a positional trade, the time frame would be around 10-12 trading sessions.

DERIVATIVE PICK

JP ASSOCIATES (CASH – Rs.87.55) : The stock has made a smart rebound and we expect the small upmove to get converted into a bigger upmove. Buying is advised above Rs.88.50 for a target of Rs.91.25 and Rs.94. Higher target of Rs.96-98 is also possible. A slightly loose stop loss of Rs.83.75 should be kept. Since it is a positional trade, the time frame would be around 10-12 trading sessions.

DERIVATIVE PICK 14 02 2011

BHUSAN STEEL :- ( CASH – Rs.378.55) : Buying is advised above Rs.383 for a target of Rs.391 and Rs.398. Higher price of Rs.407 and Rs.412 is also possible. Stop Loss of Rs.369 should be kept.